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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected];

Stock News for Computer Sciences (CSC)
DateTimeHeadline
01/17/201716:44:50Statement of Changes in Beneficial Ownership (4)
01/17/201716:44:50Statement of Changes in Beneficial Ownership (4)
01/17/201716:44:49Statement of Changes in Beneficial Ownership (4)
01/09/201708:00:00CSC Named Leader on Everest Group 2016 PEAK Matrix™ for Provider I...
01/06/201716:25:04Current Report Filing (8-k)
01/05/201716:30:00CSC Advances Industrial Machine Learning to Help Businesses Make...
12/30/201616:13:44Statement of Changes in Beneficial Ownership (4)
12/30/201616:13:43Statement of Changes in Beneficial Ownership (4)
12/30/201616:13:43Statement of Changes in Beneficial Ownership (4)
12/23/201616:22:10Current Report Filing (8-k)
12/16/201616:48:13Statement of Changes in Beneficial Ownership (4)
12/16/201616:48:13Statement of Changes in Beneficial Ownership (4)
12/16/201616:48:13Statement of Changes in Beneficial Ownership (4)
12/15/201617:48:00CSC and Smartlink Mobile Systems Enter Strategic Collaboration...
12/15/201610:25:00CSC Named a Leader in IDC MarketScape: Asia/Pacific Managed Security...
12/15/201608:00:00CSC Board Declares Quarterly Cash Dividend
12/14/201616:15:00pdvWireless Announces Appointment of Paul Saleh to Board of Directors
12/12/201609:30:00CSC Unveils Top Enterprise IT Trends Shaping Global Business...
12/06/201609:00:00CSC Charitable Foundation Launching Youth Computer Coding Challenge...
12/05/201617:04:41Statement of Changes in Beneficial Ownership (4)

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